Will Venezuela become oil biggie? As US lifts sanctions, experts weigh in
The Joe Biden administration removed the majority of the six-month limitations on Venezuela's ability to produce, sell, and export oil to specific markets...
Category : Oil & Gas
IMF predicts robust growth for the UAE economy, driven by oil revenues
Over the medium term, increasing non-oil revenue will be supported by the gradual implementation of a corporate income tax, which started in June 2023...
Amid geopolitical tensions, OPEC sticks to 2024 oil demand forecast
OPEC and its allies, known as OPEC+, began limiting supplies in 2022 to support oil prices...
Will Gaza conflict affect oil market adversely? Analysts answer
Oil prices had tumbled around the last week of September 2023, as fears of a weakening global economic outlook spiked concerns of softening demand...
Russia & Saudi Arabia to continue voluntary oil cuts
In August, Russia announced that it would decrease exports by 300,000 bpd through the end of the year...
G7 shelves Russian oil cap reviews as prices soar ahead of supply cuts
by WebAdmin
The G7 countries along with the European Union and Australia imposed the price cap mechanism on Russian oil in December 2022, followed by a cap on fuel from February 2023...
Moscow plans to reveal new parameters, extends oil export reduction
Russia has been reducing output and exports in concert with Saudi Arabia in addition to current OPEC+ limits...
Hollywood film ‘Sands of Fortune’ to spotlight Saudi’s lucrative oil industry
Saudi Arabia discovered oil at 1,440 meters in the Dammam oilfield in March 1938...
Kuwait records first budget surplus in nine years thanks to soaring oil prices
Over the course of a year, Kuwait brought in 28.8 billion dinars, a 54.7 per cent increase over the previous year...
Oil prices slide further amid concerns over China’s economic growth
China, the top oil importer in the world, is experiencing a sputtering recovery, which continues to worry the market...